Resona Asset Management Co. Ltd. Takes Position in Chesapeake Utilities Corporation $CPK

Resona Asset Management Co. Ltd. acquired a new stake in shares of Chesapeake Utilities Corporation (NYSE:CPK) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 4,375 shares of the utilities provider’s stock, valued at approximately $526,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jennison Associates LLC increased its holdings in Chesapeake Utilities by 4.2% in the 2nd quarter. Jennison Associates LLC now owns 540,199 shares of the utilities provider’s stock worth $64,943,000 after purchasing an additional 21,968 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Chesapeake Utilities by 4.6% during the first quarter. Invesco Ltd. now owns 485,822 shares of the utilities provider’s stock worth $62,394,000 after purchasing an additional 21,143 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Chesapeake Utilities by 0.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 271,788 shares of the utilities provider’s stock valued at $34,906,000 after buying an additional 1,902 shares during the period. Wellington Management Group LLP acquired a new position in shares of Chesapeake Utilities in the first quarter valued at approximately $26,299,000. Finally, Zimmer Partners LP raised its holdings in Chesapeake Utilities by 57.1% in the 1st quarter. Zimmer Partners LP now owns 177,048 shares of the utilities provider’s stock valued at $22,738,000 after buying an additional 64,353 shares during the last quarter. Institutional investors own 83.11% of the company’s stock.

Chesapeake Utilities Price Performance

CPK stock opened at $135.18 on Wednesday. The company has a quick ratio of 0.36, a current ratio of 0.42 and a debt-to-equity ratio of 0.83. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of 24.10 and a beta of 0.79. The company’s fifty day simple moving average is $131.08 and its 200 day simple moving average is $125.90. Chesapeake Utilities Corporation has a 12-month low of $115.12 and a 12-month high of $140.59.

Chesapeake Utilities (NYSE:CPK) last posted its quarterly earnings data on Thursday, November 6th. The utilities provider reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.08). Chesapeake Utilities had a return on equity of 9.20% and a net margin of 14.89%.The business had revenue of $179.60 million during the quarter, compared to the consensus estimate of $167.30 million. During the same period last year, the business posted $0.80 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis. Chesapeake Utilities has set its FY 2025 guidance at 6.150-6.350 EPS. On average, analysts expect that Chesapeake Utilities Corporation will post 5.39 earnings per share for the current year.

Chesapeake Utilities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, December 15th will be issued a dividend of $0.685 per share. This represents a $2.74 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Monday, December 15th. Chesapeake Utilities’s dividend payout ratio is presently 48.50%.

Analyst Upgrades and Downgrades

CPK has been the topic of a number of research reports. Wall Street Zen lowered shares of Chesapeake Utilities from a “hold” rating to a “sell” rating in a report on Saturday. BTIG Research assumed coverage on shares of Chesapeake Utilities in a report on Tuesday, October 21st. They set a “neutral” rating on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Chesapeake Utilities in a research note on Wednesday, October 8th. Finally, Barclays set a $141.00 price objective on Chesapeake Utilities and gave the company an “equal weight” rating in a report on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $135.00.

Insider Activity at Chesapeake Utilities

In other news, CFO Beth W. Cooper sold 5,000 shares of Chesapeake Utilities stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $132.15, for a total value of $660,750.00. Following the completion of the sale, the chief financial officer owned 90,713 shares in the company, valued at $11,987,722.95. The trade was a 5.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.68% of the stock is currently owned by company insiders.

About Chesapeake Utilities

Chesapeake Utilities Corporation operates as an energy delivery company. The company operates through two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment natural gas distribution operations in central and southern Delaware, Maryland's eastern shore, and Florida; regulated natural gas transmission in the Delmarva Peninsula, Ohio, and Florida; and regulated electric distribution in northeast and northwest Florida.